Non payment of sale consideration

Question

Non payment of sale consideration

30-May-2024 (In Recovery Law)

We have sold a floor which was financed by IIFL Home finance, we have transfer the property through registered sale deed to buyer but after the two month of sale deed we have not received the payment, what should I do please suggest.

Answers (5)

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Adv. Mukesh Kumar Sah Adv. Mukesh Kumar Sah

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Advocate Satyaarth Sinha LawRato · Accepted Answer · 2024-05-30T23:43:07+05:30

Answer #2

Hello You have the option to file a summary suit seeking recovery. Since you have an agreement under which the buyer is responsible to pay. summary proceedings ensures expedition trial and you can recover your money in a reasonably lesser time.

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Adv. Satyaarth Sinha Adv. Satyaarth Sinha

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Advocate Jitender Singh LawRato · Accepted Answer · 2024-05-31T06:16:58+05:30

Answer #3

First of all rather than going legally you should serve him/her a legal notice and in that notice you can write that either pay my money or face legal action which will be at your own risk. After that if he/she fails to give you a satisfactory reply then you can anytime file a recovery suit in the court to claim your money back along with compensations.

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Advocate Ashutosh Kumar Mishra LawRato · Accepted Answer · 2024-05-31T12:12:48+05:30

Answer #4

You should file suit for recovery under order XVII of CPC, it is a summary suit and if it is mentioned in the sale deed of the said floor that you are yet to receive the consideration amount for the sale-deed, then you have got a good case for filing the suit seeking pendet lite future interest along with damages.

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Adv. Ashutosh Kumar Mishra Adv. Ashutosh Kumar Mishra

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Advocate Akhilesh Kamle LawRato · Accepted Answer · 2024-05-31T19:14:56+05:30

Answer #5

you should issue a legal notice to the bank. and can file a case for declaration. and deed will be cancelled and you will be compensated by the bank. please call me for any further assistance in this regard. you can also call me for any legal opinion

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Adv. Akhilesh Kamle Adv. Akhilesh Kamle

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